A new energy taskforce will reportedly be unveiled soon in a bid to grow the UK’s oil, gas and nuclear supplies.
According to The Mail on Sunday, two senior industry experts will head this new advisory group that will give recommendations on a ‘transition period’ focused on fossil fuels.
The primary goal of this shift to fossil fuels would be to ease the pain for British households.
Analysts have predicted that the war in Ukraine could make energy bills reach £3,000 a year by October.
A few days ago, during a press conference on Ukraine, the Prime Minister said: “One of the things we are looking at is the possibility of using more of our own hydrocarbons and you’ll have seen already what the Business Secretary has had to say about licences for our own domestic production.
“This doesn’t mean that we are abandoning our commitment to ban carbon dioxide.
“You can do that, but we have to reflect the reality that there is a crunch on at the moment. We need to intensify our self-reliance, as a transition with more hydrocarbons.
“But what we also need to do is go for more nuclear and much more use of renewable energy. I’m going to be setting out an energy strategy, an energy supply strategy, for the country in the days ahead so that people have a sense of how we are going to meet people’s needs over the short, medium and long term.”
Last week, speaking in the House of Commons, Business Secretary Kwasi Kwarteng said: “The UK is not dependent on Russian natural gas making up less than 4% of our supply.
“I want to make clear that we fully intend and we must end our dependency on all Russian hydrocarbons. In the meantime, we need more investment in the North Sea oil and gas production – as we make the move to cheaper and cleaner power.
“Turning off domestic production – as some are calling for – at this moment would be completely the wrong thing to do. We are not going to do it.”
ELN has contacted BEIS and Number 10 for a response.